The change in strategy was confirmed in a message posted to Xiaomi’s Weibo account without specific explanation. Reuters reported that the move was down to a dispute over valuation. Xiaomi declined to comment further when asked by TechCrunch.

Xiaomi’s IPO is set to happen this month and it is poised to raise as much as $10 billion, potentially, and at a valuation that could reach as high as $100 million. There have, however, been suggestions that the top number won’t be reached. Still, the listing is shaping up to be the world’s largest since Alibaba’s record-breaking IPO in New York in 2014.

In filing for CDRs, Xiaomi gave away a little more financial information ahead of its public market debut. Chiefly, it revealed that it made a big $1.1 billion loss for Q1 but that was mainly down to one-off charges. The company actually posted a 1.038 billion RMB ($162 million) profit for the quarter when those items are excluded, and that included impressive revenue growth to give encouragement to investors.